Employee Pension Scheme
Dalal Street Investment Journal|May 22, 2023
The EPS is a savings scheme that is part of the larger EPF in India. The EPS is designed to help employees save money for their retirement with the ultimate goal of providing them with a pension once they retire. The recent EPS rules have left a lot of people confused as to whether or not to opt for higher pension. In this article, DSIJ untangles the confusion revolving around opting for a higher pension
Employee Pension Scheme

Retirement is a time in life when you can relax, pursue your passions, and spend time with loved ones without the pressure of work. But to ensure that you have a comfortable and financially secure retirement, it’s important to plan ahead. The Employee Pension Scheme (EPS) is a way for people to save money for when they retire from working. It’s like putting money in a piggy bank every month so you can use it later when you are not working anymore. The EPS is part of a larger savings scheme called the Employee Provident Fund (EPF). This is like a bank account where people put money aside for their retirement. Both the EPS and the EPF help people save money for when they are older and don’t work anymore.

When people retire, the EPS will give them money every month – like an allowance – so they can pay for things they need like food and housing. The EPF will give them a big chunk of money when they retire, so they can use it for things like travelling or buying things they want. By saving money in the EPS and the EPF, people can have a better retirement phase where they can do the things they love and not have to worry about running out of money. However, recently we have seen some changes in these schemes. Previously, the pension that EPS subscribers got upon retirement was insufficient.

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